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Subscription-Based Business Models Key Facts and Information

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Subscription-Based Business Models Key Facts and Information

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  1. Subscription-Based Business Models Key facts and information

  2. Subscription-based businesses From Spotify to Netflix, the rise of subscription-based businesses is having a real impact on how consumers buy and use products. Instead of making one-off purchases, people are now subscribing to services, renting products, and making recurring payments. This shift in consumer behaviour is changing the priorities for many businesses…. Simply selling units of a product or service is no longer enough. Building lasting relations with customers is now vital.

  3. Subscription-based innovation Some of the most innovative new business ideas are using subscription-based models: King of Shaves – shaving packs Glossybox - cosmetics Kopi Coffee Club - beverages Shirtsmart – bespoke clothing Graze – healthy snacks Zipcar – vehicles Even ‘Boris Bikes’ fit into the subscription-based business model…

  4. Reacting to the shift in consumer behaviour… “80% of businesses (US, UK and Australian) have seen changes in how customers access their services. As a result, over half (51%) are considering new business models including subscription pricing. Of those, subscription-based models have emerged as the primary means to do so, with 40% of these companies implementing subscription services as part of their core business.”* *2013 survey of US, UK and Australian businesses conducted by the Economist Intelligence Unit

  5. Subscription-based benefits • Becoming a subscription-based business offers some major benefits. • Here are a few to consider: • New revenue opportunities • Improved cash flow • Competitive point of difference • Increased customer loyalty • More accurate stock control

  6. 4 subscription model ideas • Could customers subscribe to your business? 4 ideas to consider: • Sell yourself - Give your customers the benefit of your expertise and passion. Send them products that you’re most excited about. • Sample yourself - Package up samples of your products, giving your customers the chance to try before they buy. • Sell your library – Offer access to your content library for a monthly fee. Specialist publications, video guides etc. • Sell your services – Maintain and monitor the software or hardware that your clients use, including upgrades and repairs.

  7. 4 subscription implementation tips • Consider the time to market – your idea should get you to market in weeks or months (rather than years). • Be adaptable - your model should be able to adapt to new trends and shifts in customer behaviour. • Give yourself room – ensure that your model gives you the ability to upscale your customers and grow your business. • Minimise risk – make sure your commerce and payment solution is fully compliant and regulated.

  8. AccessWallet for subscription-based businesses • AccessWallet is a fully secure, cloud-based online payment solution. We make it quick and easy for businesses to collect recurring payments from their customers. • Why choose AccessWallet for your subscription-based business? • Low transaction fees • No set up costs • No monthly or hidden costs • 100% cloud-based • Quick and easy set-up • Mobile access • Bank-grade security • Seamless integration • Advanced customer notification

  9. Any Questions? AccessWalletCEC Winchester - Crawford Place,259-269 Old Marylebone Rd, London NW1 5RA Tel: +44 (0) 203 282 7154 Email: info@accesswallet.com Website: www.accesswallet.com Regulated by the Financial Conduct Authority (FCA).

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